Important changes in Virginia for dealers effective July 1
1. The graduated .05% year over year vehicle title tax increase that commenced in 2014 is increasing again, July 1, from 4.05% to 4.10%. Dealership data processing contractors likely on top of this from last year when the year over year increase went into effect. Dealers should take care, however, that vehicle sales and finance and insurance staff are tuned into the increase which will affect all vehicle sales starting next Wednesday, July 1 and thereafter.
2. Virginia dealer and salesperson licensing fees will rise July 1 to accommodate increased operating costs of the Motor Vehicle Dealer Board (MVDB). MVDB has raised less than half of the fees that dealers now pay. Click here to see the fee schedule, effective July 1.
MVDB is confident that the new fees will adequately meet its operating costs while sustaining firm financial footing over the next several years. In recent years, MVDB has stretched its dollars and saved money in several administrative areas, such as getting a reduced rent, buying refurbished or used equipment, using email instead of traditional mail, using electronic documents instead of paper, and streamlining work flow, said MVDB Executive Director Bruce Gould.
Some of the current fees were set in 1996, others in 2007.
Any questions can be directed to Mr. Gould at firstname.lastname@example.org .
3. Starting July 1, Virginia dealers will need to destroy old copies of 12 DMV forms and replace them with new ones. Click here for a table that lists forms that have been revised, combined or made obsolete effective July 1, 2015.
MVDB has also developed a brand new form, MVDB 57, Dealer-Operator/Salesperson Qualification Test Application. Applicants taking the salesperson or dealer-operator tests at a DMV Customer Service Center will complete this form before taking the appropriate test.
Again dealers should destroy all old form stock they have on hand. July dealer renewal applications will print on current form stock. Starting in August, all dealer renewals will be printed on new forms.
All forms listed on the table will be available online at www.mvdb.virginia.gov around June 26, but no later than July 1. Once the new forms are posted, dealers may use them. Using online, fillable forms is the easiest way to print and store only what is required. MVDB and DMV will keep only a limited supply of these forms on hand for mailing to dealers.
Questions can be directed to MVDB Executive Director Bruce Gould at email@example.com.Download Bulletin PDF